Government Sets New Guidelines For Private Sector Candidates Applying To PSUs

The Public Sector Enterprises Board has revised the criteria for private sector candidates applying for jobs at public sector undertakings (PSUs) starting 1 June. Candidates will now need to provide their company’s annual turnover, their personal cost-to-company (CTC), along with a 400-word write-up on themselves for job application at senior levels, according to an Economic Times report.

The application process will allow private sector professionals to apply for management level positions in government companies. The Appointments Committee of the Cabinet under the guidance of the Prime Minister will take the decision on the appointment of PSUs top management.

The Union Cabinet last year had opened up top level management positions in public sector enterprises for the private sector in order to broaden the spectrum for the posts giving advantage of domain expertise. However, it lacked significant criteria for appointment which left approximately 70-80 senior posts vacant in PSUs such as IRCTC, NHPC, Coal India, ONGC and Northern Fields. Some director-level posts are also vacant in NTPC, SAIL, GAIL and MMTC Ltd.

Candidates will have to provide audited annual turnover of the current company of the last three years, his/her CTC and his Corporate Identity Number. Along with that, the candidate will have to provide Director Identification Number, if working at the management level, and specify if the current company is listed on the stock exchange.

The 400-word write up in support of nomination has been made compulsory for the private and government candidate for reference at the time of interview, which was earlier optional. The candidates will be asked to submit every qualification detail acquired throughout. The new application process will have a complete scrutiny of the candidate’s suitability for the position sought in the PSU.

Private as well as government candidates will have to sign an undertaking that if the applicant doesn’t join after an interview or appointment letter, he/she will stand disqualified from joining any PSU for two years.